Fund houses plot China growth plans after rules relaxed

  Foreign and domestic asset managers in China are weighing how best to respond to a recent rule change that allows offshore players to take full ownership of local fund operations. For foreign players, the key question is whether to take full control of existing joint ventures, set up their own operation or stick with or establish new JVs. Meanwhile domestic players must decide whether to keep playing in a developing industry or team up with or sell out to wealthy foreign riv…